Julius Baer whistleblower cites Swiss tax edge
May 4th, 2010
Former Julius Baer exec gave data to U.S. authorities; Elmer says Swiss banking costs but yields tax advantage; Baer: disgruntled Elmer on a campaign, altered documents
Reuters
MIAMI, May 3 (Reuters) – A former private banker at Julius Baer (BAER.VX), who alleges the Swiss bank knowingly helped rich clients dodge taxes, said on Monday that U.S. clients have long paid a premium for Swiss firms’ tax advantages.
Rudolf Elmer, who told his story in public for the first time, was fired from Julius Baer in 2002. He says he has divulged internal company documents with officials in several countries, including the United States and Germany.